queerty approved

Kiva’s Micro-Lending Hits the U.S.

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QUEERTY APPROVED — Kiva is the remarkable micro-lending service that for years connected average Joes with a few bucks to spare with struggling entrepreneurs around the world (in Africa, Asia, South America) who sometimes needed just $25 to buy new supplies their grocery store, or $100 to buy more feed to raise farm animals they would later sell in a market. One or more lenders can donate to a needy borrower; Kiva handles sending the cash to a local micro-finance institution that facilitates the work on the ground. Thus far, Kiva hasn’t worked with small businesses in the U.S. That’s just changed: Kiva added the U.S. as its 45th country. It’s already facing criticism about extending help to Americans, who are generally better off than those in, say, Sub-Saharan Africa. But we’re all for helping any entrepreneur, no matter her geography, in need of a few dollars to keep on chugging, especially when America’s own credit market is extremely tight.